Level Brands, Inc. (LEVB) Reports Q3 EPS of $0.03

Level Brands, Inc. (NYSE: LEVB) reported Q3 EPS of $0.03. Revenue for the quarter came in at $3.2 million.

• Reports 79% Year-over-Year Sales Growth and $0.03 EPS for Q3
• Total Net Sales up 105% for the nine-months ended June 30 compared to same period 2017
• Gross Profit as a Percentage of Net Sales was 65.4% in Q3 and 73.3% for the nine months ended June 30
• Net Income of $206,074 in Q3 and $477,542 for the nine-months ended June 30 vs. losses in year ago periods

“We’re pleased to report another quarter of profitability,” stated Martin A. Sumichrast, Chairman and CEO of Level Brands. “While we continue to generate strong year-over-year revenue growth, it’s important to note the royalty components of many of the licensing deals signed this year have yet to be generated and therefore are not reflected in our reported numbers. As we execute on these agreements and continue to sign more clients, our pipeline of potential future royalties grows exponentially, and with no inventory and tight cost controls, we believe our high margin operation should see much of this reach our bottom line, which should lead to significant shareholder value creation.”

“We believe leveraging the kathy ireland® Worldwide ‘blueprint’ for IP development allows us economies of scale, which underpins our ability to bring virtually unlimited products and services of quality through the appropriate distribution channels to meet the demands of our targeted customers. With current executed contracts encompassing products in fashion, accessories, beverages, personal care, health care, and spirits, which are already in development or available at brick and mortar stores and online retailers, we believe we have the right foundation for sustained success and growth,” continued Mr. Sumichrast.

For earnings history and earnings-related data on Level Brands, Inc. (LEVB) click here.

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